The Shiba Inu project is looking to launch its governance organization and the DAO Foundation in its bid to expand its influence
Shiba Inu (SHIB) is making an effort towards the launch of its new governance model. According to the protocol’s marketing lead, LUCIE, the launch of Shib Doggy Decentralized Autonomous Organization (DAO) and its foundation is expected by 2024/2025.
Shiba Inu to Move To Decentralized Governance
This launch will mark Shiba Inu’s pivot from a centralized to a decentralized governance model. Holders of Shiba Inu ecosystem tokens like SHIB, LEASH, BONE, and TREAT will now play a role in making crucial decisions regarding the cryptocurrency. They will also vote on important initiatives, ranging from technological advancements to community projects.
In other words, these token holders can determine Shiba Inu’s future rather than short-term speculators or external actors. Shiba Inu has designed the Doggy DAO so that each token in the SHIB ecosystem will serve as a governance token for different purposes.
Shib’s DAO and Foundation Are Coming Soon
The time is almost here. As we approach the 2024/2025 launch, the Shib ecosystem is on the verge of a transformative shift that will put power into the hands of real holders. ( !!! NOT X TROLLS or FUDDERS on telegram)
The introduction… pic.twitter.com/p6ufpQpSSB
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) October 17, 2024
More precisely, SHIB will govern the community, while BONE powers Shiba Inu’s technology, including Shibarium. The upcoming TREAT token will fund and empower all community projects. Finally, LEASH will offer protection and exclusivity to Shiba Inu community members.
The DAO Foundation is designed to oversee the DAO, ensuring that the ecosystem team executes the community’s decision. LUCIE highlighted other foundation functions, including managing assets within the Doggy Treasury. The DAO Foundation will also prevent misallocations and provide security and transparency to the community.
This move will likely reposition Shiba Inu as a serious project with a long-term vision.
SHIB Price Reacts to News of Doggy DAO
Following the news of the DAO, the SHIB price has seen a pump. In the last 24 hours, the token has soared by 3.57% and is now trading at $0.00001878. Its market capitalization has topped $11 billion, while SHIB’s trading volume is up 0.46% to $511.13 million.
The dog-themed memecoin is exhibiting a bullish sentiment and may eventually lose a zero, as analysts predicted earlier. Many market experts expect SHIB to perform strongly in the extended bull market. Some forecast that SHIB could reach $0.0001 or higher soon.
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